domtar corporation (ufs) - super absorbent polymer applications

by:Demi     2019-08-25
domtar corporation (ufs)  -  super absorbent polymer applications
☒☐No. ☒☐☐☒☒☐☒☐☐☒☐☐☐☐☐☐☒DOMTAR company availability of business information our company structure our business unit spulp and paper personal care our strategic plan and financial priorities our competition our employees our sustainability
View statement risk factors resolve employee reviews property legal procedures secure disclosure market for registered company common stock, relevant shareholder matters and issuers purchase stock securities market information holders performance chart selected financial data analysis discussion and analysis of financial status and operational results and key accounting estimates and policies quantitative and report of qualitative disclosure of financial statements and supplementary data management company to shareholders of Domtar companyLoss)
Comprehensive income (Loss)
Consolidated Balance Sheet shareholder equity Consolidated statements Consolidated statement Cash Flow Statement Consolidated statement notes to consolidated financial statements 9 changes in accounting and financial disclosure controls and procedures and differences with accountants certain beneficial owners, management and related shareholders title of compensation guarantee, trust relationship and related transactions, and director independence principal accountant fees and services exhibition and financial statements schedule II-valuation and qualified accounting forms
Report on the final accounts of K summary signaturespartiitem. BUSINESSwww. domtar. comwww. domtar.
ComPulp and paper: Our pulp and paper division includes the design, manufacture, marketing and distribution of pulp in communications, professional and packaging paper, as well as Cork, fluff and hard wood markets.
Personal care: our personal care department includes the design, manufacture, marketing and distribution of absorbent sanitary products. PULP AND PAPER(4)(1)(2)(3)(4)
American wood fiber pulp and paper mills working with each location.
Our pulp can be transported by ship, rail or truck depending on the destination and customer preference.
We work with all major rail and about 350 trucking companies in the US and Canada.
Service agreements are usually negotiated once a year.
We pay a diesel surcharge depending on the mode of transport used and the cost of diesel.
In order to increase brand awareness and increase the demand for products, commercial printing and publishing paper, professional and packaging paper are all chasing decisions.
In addition, our sales representative works closely with the factory
In order to better understand the customer's business needs and support their future needs, the company is headquartered in product developers and has a joint marketing plan with the customer.
Given the purchasing power and strategic importance of baby diaper shoppers, the category is expected to remain strong in personal care for major retailers.
We serve healthcare, retail and direct salesto-
Consumption channels.
By leveraging our flexible production platform, manufacturing expertise and efficient supply chain management, we believe we can provide
In all channels, under our own brand or the brand of our customers, to provide customers with high quality products.
We have direct sales offices in the United States and some European countries.
Drive the value of pulp and paper business.
Domtar's pulp and paper business remains an important part of our growth plan, and we have strategic and operational priorities designed to maximize business value.
Our key priorities include: improving the productivity of the pulp business, finding new sources for paper consumption, looking for opportunities for asset reuse, and the best combination of operating strategic assets.
We believe that the implementation of these priorities will enable Domtar to expand into complementary areas of growth and protect its market position in pulp and paper.
Expand to growth and leverage our fiber expertise.
We focus on optimizing and expanding our operations in a market with dynamic demand through investment in organic growth, reuse of assets and strategic acquisitions.
Domtar has a history of proactively adapting to a changing market environment, and today we are repositioning the company into growth.
We are fully prepared to take advantage of new opportunities in the wood fiber market.
The company already has the financial resources, infrastructure, raw materials, technology and expertise needed to deliver new products.
We are confident that we have laid a solid foundation for diversity and continue to make important but disciplined progress.
A balanced and disciplined approach to capital allocation allows investment in growth opportunities and returns shareholders with capital.
We believe in a balanced and disciplined approach to capital allocation, and we promise to deploy capital only in areas where we can get the best return for our shareholders.
Domtar's free cash flow enables us to invest in growth opportunities and maintain a strong and flexible financial position in our operations and strategic plans while still returning capital to shareholders.
To continue to generate free cash flow, we are committed to effectively allocating capital expenditures and minimizing the need for working capital by reducing discretionary spending, reviewing procurement costs and pursuing a balance in production and inventory control.
Operate responsibly on behalf of all stakeholders of Domtar.
We strive to have a positive impact every day by pursuing sustainable growth, valuing relationships and managing our resources responsibly.
Our goal is to take care of our customers.
Users and stakeholders in our community are looking for guarantees to manage resources in a sustainable way.
We strive to provide these guarantees by certifying our distribution and manufacturing operations and measuring our performance against international recognized benchmarks.
Domtar is committed to the responsible use of forest resources in our business, and we are involved in projects and initiatives that encourage landowners to seek certification to improve their market access and increase their income opportunities.
We believe that every initiative creates value for shareholders and is part of our commitment to greater business strategy and environmental sustainability.
Paper products with competitive solutions and prices, including high quality Forest Management Committee (“FSC”)-
Paper certified products.
While we are a leader in the North American coating-Free plate market, we also compete with other paper grades, including coated free plates, as well as alternative products for electronic transfer and file storage.
As the use of these alternative products continues to grow, we continue to see a decline in overall demand for paper products.
All of our pulp and paper manufacturing facilities are located in the United States or Canada, where we sell about 82% of our products.
Domtar is the largest of five coating-free sheet paper manufacturers in North America, accounting for about 80% of total production capacity.
Worldwide, hundreds of manufacturers produce and sell coated free board paper.
The level of competitive pressure on foreign producers in the North American market is highly dependent on the exchange rate, especially the exchange rate between the United States and the United States. S.
Dollars, euros, and the United States. S.
US dollar and Brazilian real.
Domtar implements this sustainable commitment at all levels of the company and at each location.
With the support of the board of directors, our management committee authorizes senior managers in manufacturing, technology, finance, sales and marketing, as well as in the company's staff functions to get together on a regular basis, establish key sustainability performance and regularly evaluate and report progress. We have a vice-
The position of president who helps lead this effort to make the company's organizational structure better reflect the company's priorities for sustainable performance.
We believe that the integration of sustainable development into our business will lead to a better positioning for the future.
Our executive officer.
"Management Committee ")FORWARD-
Looking forward to the future, the use of fine paper products in our core North American market continues to decline;
Our ability to implement business diversity initiatives, including re-use of assets and strategic acquisitions;
Sales price of products;
Price of raw materials including wood fiber, chemical and energy;
The state of the global capital and credit markets and the overall state of the economy, especially the US economy. S.
Canada and Europe;
Performance of the manufacturing business of Domtar, including unexpected maintenance requirements;
Competition level of domestic and foreign producers;
Network attacks or other security loopholes;
Impacts or changes in forestry, land use, environment and other government regulations and accounting regulations;
The impact of the weather and the risk of losses caused by fires, floods, storms, hurricanes and other natural disasters;
Transportation costs;
Loss of current customers or inability to obtain new customers;
Legal proceedings;
Changes in asset valuation, including impairment of property, plant, equipment, inventory, accounts receivable or other assets due to impairment or other reasons;
Changes in the currency exchange rate, especially the relative value of the United StatesS.
Dollar against Canadian and European currencies;
Impact of retirement time and change in market price of common stock of Domtar Corporation on stock charges
Basic compensation;
Performance of pension fund investment and related derivatives (if any;
And other factors described under Item 1A of "risk factors. ITEM 1A.
Risk factors for exchange rate fluctuations.
There is no guarantee that the company will be protected from a large amount of foreign exchange fluctuations.
The currency exchange rate may adversely affect the Company's operating performance and financial situation.
Disposal of hazardous substances and wastes, cleaning of contaminated sites, landfill operations and closure obligations, forestry operations and habitat of endangered species, and health and safety matters.
Especially in the pulp and paper industry in the United States, the United States Environmental Protection Agency (“EPA”)Cluster Rules.
It may adversely affect the Company's financial performance.
In addition, some countries are actively seeking to amend the tax laws applicable to multinational corporations, such as the United States. S.
Tax Cuts and Jobs Act (“U. S. Tax Reform”)
Promulgated in 2017
In the end, foreign governments may issue tax laws against the situation in the United States. S.
Tax reform could lead to further changes in global taxes and have a significant impact on the company's financial results.
The company relies on third parties for transportation services.
Stop maintenance from time to time;
Power outage for a long time;
Equipment failure;
Leakage or leakage of chemicals;
Fault of boiler;
The effects of drought or reduced rainfall on its water supply;
Difficulties in labor;
Government regulations;
Disruption of transportation infrastructure, including roads, bridges, rail tracks and tunnels;
Severe weather, fires, floods, earthquakes, hurricanes, or other disasters;
Network attacks or other security loopholes;
Terrorist or terrorist threats;
Or other operational issues, including those caused by the risks described in this section.
Our operational efficiency may be adversely affected by information technology disruption (IT)Services.
Additional service signs and trademarks are provided as appropriate.
The company cannot guarantee that any of its pending patent or trademark applications will be approved by the applicable government authorities, and even if the application is approved, a third party may seek to object to or otherwise challenge these registrations.
Failure to obtain any pending patent or trademark application may limit the company's ability to protect the intellectual property rights that these applications are intended to cover. ITEM 1B.
Unresolved employee reviews 2.
24 million acres of public woodland in Canada licensed and managed by third parties.
We believe that these woodlands will provide an ongoing supply of wood for future demand.
China, Hong Kong project 3.
Legal action 4.
The third part is the fifth mine safety disclosure.
Registrant's common stock, related shareholder matters and issuer's purchase of equity securities market (1)ITEM 6.
Selected Financial Data 1234 item 7.
Management Discussion and Analysis of financial status and results of operationsdomtar.
Combined results of Comoverview 2018 high light soutlook operations and market segments review recent accounting statements and key accounting estimates and policies for liquidity and capital resources our pulp and paper segments include specialty and wrapping paper, as well as pulp in Cork, fluff and hard wood markets.
Our personal care department includes the design, manufacture, marketing and distribution of absorbent sanitary products.
Operating income and net profit increased by 218% and 210% respectively from 2017, up 6% from 2017.
The net average selling price of pulp and paper increased, and the net average selling price of personal care products decreased from 2017.
Compared with the recognition of closing and restructuring costs in 2017 and accelerated depreciation related to the profit improvement plan announced in our personal care, our manufacturing paper volume has increased by $8 million and $7 million, cash flow from operational activities was $0. 554 billion respectively. We paid $0. 108 billion for shipping through our business (a)
Business Segments (a)(b)(a)Includes(b)Includes non-
Cash Goodwill impairment costs associated with our personal care section are $0. 578 billion. (a)
Including raw materials (
Such as fiber, chemical industry, non-woven fabric, high water absorption resin, etc)
Energy costs. (b)(c)(d)
2018 the cost of restructuring mainly involves: 2017 the cost of restructuring mainly involves :(e)
2018 operating expenses/income includes: 2017 operating expenses/income includes: 2018 combined with the repatriation tax amount, covering all tax liabilities for foreign investment to date.
We are still indefinitely reinvesting in the external base differences of foreign subsidiaries. (a)(b)(c)(d)(e)
2017 restructuring costs primarily related to: 2017 operating expenses/income includes restructuring costs primarily related to: comments-2017 vs.
2016 interest fees are increased by a decrease in capitalized interest and an increase in interest costs associated with the term loan agreement.
This increase was offset by the repayment at the expiration of 9.
5% notes due on August 2016 and 10 due.
75% bills due on June 2017.
As a result of the reduction in corporate tax rates, we revalued the net liability for final Deferred tax and confirmed $0. 186 billion in interim tax benefits in the annual consolidated income statement as at December 31, 2017
In 2018, operating income in our pulp and paper sector was $0. 438 billion, an increase of $0. 201 billion over operating income of $0. 237 billion in 2017.
Our results are positively influenced by the following factors: the average selling price of pulp and paper is higher ($355 million)
Depreciation expense ($16million)
Other income/expenses are higher as some assets are fully depreciated ($3 million)
High operating expenses ($94 million)
Mainly due to the shortage of truck capacity in North America, the increase in freight costs, and the increase in maintenance costs due to the schedule of planned maintenance ($69 million)
Mainly related to the high cost of chemistry, fiber, and energy, in part because of bad weather conditions and unfavorable market conditions, the negative impact of our hedging plan, and the cost of Canadian dollar appreciation to us in Canada ($9million)
Lower volume and mixing ($1 million)
Mainly related to the lower volume of pulp, partially offset by the larger volume of paper$60million)
As accelerated depreciation relates to our decision of 2014, the paper machine of our Ashdown plant was converted into a high quality fluff pulp production line in 2016 and due to the full depreciation of certain assets, depreciation expense reduction is mostly related to conversion in our Ashdown factory, from paper machine to high quality fluff pulp production line, turning off pulp dryer, idle related assets in our Plymouth factory, this is related to our plan to optimize the manufacture of fluff pulp, recorded in 2016 ($31 million)
Low investment costs ($14 million)
Mainly due to the increase in production and the improvement of weather and the reduction of energy costs, the reduction of fiber costs, mainly due to the favorable impact of boiler conversion, partially offset by the positive impact of the higher chemical costs of our hedging program, and partially offset by the strong impact of the Canadian dollar on our Canadian-denominated expenses ($15million)
Higher other income/expenses ($8 million)
High operating expenses ($73 million)
Mainly due to the high cost of freight, compensation, warehousing and packaging, as well as the low production and mixing volume ($17 million)
Mainly related to the small size of the paper, some are offset by the larger volume of the paper, and some are offset by the higher average price of the pulp ($2 million)
Depreciation/impairment of personal service fees ($568 million)
Mainly due to non
The cash impairment of goodwill of $0. 578 billion recorded in 2017 was not
In 2018, the favorable foreign exchange recorded a cash impairment of 7 million yuan for property, plant and equipment expenses ($4 million)
Mainly due to the stronger euro, the higher investment cost is deducted from our hedging plan ($25 million)
Mainly due to the increase in the price of raw materials and the increase in operating costs ($11 million)
Mainly due to high manufacturing and freight charges, closing and restructuring costs ($6 million)
Mainly due to the expense recorded by our profit improvement program in 2018, the unfavorable average net selling price ($5 million)
Lower volume and mixing ($2 million)
Other income/expenses ($1 million)
Higher depreciation/impairment costs ($579 million)
Mainly due to non
The cash impairment of goodwill recorded in 2017 was 578 million yuan, and the average net sales price was unfavorable ($11 million)
The adverse foreign exchange impact is deducted from our hedging plan ($4million)
Cost of restructuring ($1 million)
Other income/expenses ($1 million)
Higher volume and mixing ($6 million)
Low investment costs ($3 million)
Mainly due to the price drop of high absorbent polymer, fluffy pulp and non-absorbent polymer
Operating expenses ($3 million)
Mainly due to lower manufacturing costs, partially offset by higher wage and asset margin improvement planned operating activities. Compared with 2016, the use of cash is mainly the result of dividend payment ($102 million)
And the repurchase of our common stock ($10million).
This part is offset by the net income of the loan under our credit line (
Revolver and securitization of assets receivable)($30million)
The increase in our bank's liabilities ($12million).
On February 19, 2019, our board of directors approved a quarterly dividend of $0.
435 per share, payable to the holder of our common stock.
The dividend will be paid on April 15, 2019 to shareholders who have recorded it on April 2, 2019. (1)(2)
Recent accounting settlement and settlement of property plants and equipment-
During the 2018 period, there were no other costs associated with previous and ongoing closures and restructuring (
Severance and severance payments for 2017 and 2 million were $3 million and $2016, respectively, and pension settlement fees for 2017 and 1 million were $0 and $2016, respectively). Indefinite-
Revenue growth rate, concession use rate, estimate of impairment assessment of living Intangible assets for economic indicators and tax rates.
Financial forecasts are aligned with our operations plan and ready for every uncertain plan
Quantitative Assessment of intangible assets. .
The test shows that
The fair value of a living intangible asset exceeds its book value.
Two personal care sections for an indefinite period
Living Intangible assets are considered to be at risk of future impairment, as their respective fair values exceed their respective book values of 3% and 20% at the time of testing.
$0. 116 billion and $39 million we use for pensions and after
Retirement benefits by salary-
Financial Accounting Standards Committee on retirement benefits-
The Accounting Standards Board, which requires employers to recognize the insufficient or insufficient status of fixed-benefit pension plans as assets or liabilities in their consolidated balance sheet.
Pension and other
Retirement benefits costs need to be assumed in order to estimate the expected and accrued benefit obligations.
These assumptions require considerable judgment from management, including :-Expected long-
Long-term return on planned assets-used to estimate growth and expected return on assets-
Discount rate-used to determine the cost of interest and net present value of our obligations-
Compensation growth rate-used to calculate the impact of future growth on our obligations-
Medical expense trends-used to calculate the impact of future medical expenses on our obligations-
Employee-related factors such as mortality, turnover, retirement age, and disability-are used to determine the extent of our obligations during the assessment process, and we give the greatest attention to historical income or loss.
After assessing all the positive and negative evidence available, although there is no guarantee of implementation, we have decided that the results of future operations are likely to generate sufficient taxable income to achieve Deferred tax assets, in addition to the existence of certain national credits and losses of $6 million in valuation allowances in December 31, 2018 and the carry-over of certain foreign losses of $10 million in valuation allowances in December 31, 2018.
This amount ,($8)
2018 of tax expenses and effective tax rates are well affected (Million dollars; 2016 – ($1)million).
Accidents related to legal claims.
Quantitative and qualitative disclosure of market risk 12 interest rate risk Internal Control-Integrated Framework, internal control integrated independent Registered Accountant FirmDefinition framework report and limited internal control financial ReportingDOMTAR rational management notes comprehensive financial STATEMENTSDECEMBER month, 2018 (
In millions of dollars, unless otherwise stated, summary of important accounting policies recent accounting statements acquisition of real estate, factories and equipment and inventory of goods
Salary income (LOSS)
Common Pension Plan and other
Operating retirement benefits program (INCOME)
Loss, net interest expenditure, net income tax Inventory property, intangible assets of factories and equipment, fixed assets and restructuring costs, and payment changes in debt trade and other Cumulative Other Consolidated losses classified by components
Notes to the consolidated financial statements of the supplementary guarantor financial information disclosed by the fixed debit liability and deferred credit shareholder equity commitment and equity derivatives and hedging activities of the equity and equity securities and the fair value measurement division 31, 2018 (
Unless otherwise stated, millions of dollars.
Notes to Consolidated Financial Statements 31. 2018 (
In millions of dollars, unless notes 31, 2018 to the consolidated financial statements (
In millions of dollars, unless otherwise stated, it is very likely that the company will not realize deferred tax assets, thus establishing valuation allowances for these assets.
In general, "realization" refers to incremental benefits achieved by reducing future taxes payable or increasing future taxes refunded from deferred tax assets.
Deferred income tax assets and liabilities are classified as non-
Consolidate current items on the balance sheet.
Notes to Consolidated Financial Statements 31. 2018 (
In millions of dollars, consolidated financial statements 2018 unless otherwise stated (
Millions of dollars unless otherwise stated, the quantitative goodwill impairment test is by comparing the fair value of the reporting unit to its book value, including goodwill, and confirm the value of the impairment fee for the amount whose book value exceeds the fair value.
The impairment fee is limited to the total amount of goodwill allocated to the reporting unit.
Notes to Consolidated Financial Statements 31. 2018 (
Unless otherwise stated, the company's rewards may be affected by the market, performance and/or conditions of service.
Plan participants are credited with additional payments in respect of the exercise of stock options or any consideration paid for the purchase of shares
Capital in consolidated balance sheet
Face value included in the extra payment-
Capital components of stocks
Basic compensation is transferred to common stock after the issuance of common stock. ------
Notes to Consolidated Financial Statements 31. 2018 (
In millions of dollars unless otherwise stated
Statement of retirement benefits plan for comprehensive financial statements 31. 2018 (
Unless otherwise stated, millions of dollars.
Contract income with the client simplifies the statement of net periodic pension costs for Consolidated Financial Statements 31, 2018 and net post-periodic retirement benefits costs (
In millions of dollars, unless otherwise stated on January 1, 2018, the company adopts the guidance of the update of this accounting standard, resulting in the re-classification in the consolidated income statement of the company (Loss)
Comprehensive income (Loss)
Year as at December 31, 2017 and 2016.
Previously reported sales costs increased by $14 million and $16 million respectively, while sales, general and administrative costs decreased by $3 million and $1 million respectively, both of which had a corresponding impact
Service component of net cycle benefit cost.
The company uses the utility expediency included in the Accounting Standards Update to allow the company to use amounts previously disclosed after the pension plan and other departures
The statement of the retirement benefits plan for the previous periods serves as an estimate basis for the requirements of the retroactive statement required for the application.
In addition, these re-categories that need to be traced resulted in adjustments to previously reported operating income (loss)
In the disclosure that the company may report to the operating department as of December 31, 2017 and 2016.
Notes to Consolidated Financial Statements 31. 2018 (
In millions of dollars, unless there is another indication of the recognition and measurement of financial assets and financial liabilities, the impact of derivative contract innovation on existing hedge accounting relationships. Notes to Consolidated Financial Statements 31, 2018 (
In millions of dollars, unless the cash flow is classified, the cash flow statement improves the accounting of hedge activities. Notes to Consolidated Financial Statements 31, 2018 (
Millions of dollars unless otherwise stated the implementation cost of the cloud computing arrangement, the customer's accounting of the implementation cost in the cloud computing arrangement, otherwise, the implementation cost of service contract capitalization shall be pre-paid for the managed CCA service in the same line of items as the amount shown on the balance sheet if any (
Generally as "other assets ").
Amortization of capitalized implementation costs shall be shown in the same earnings item report for expenses related to managed CCA services.
Therefore, amortization of capitalized implementation costs should not include depreciation or amortization costs related to property, plant, equipment or intangible assets.
Cash flows related to capitalized implementation costs should be presented as operational activities, consistent with cash flows for fees associated with hosting CCA services.
Entities are required to disclose the nature of the hosting arrangements, which are service contracts and significant judgments made in applying the guidelines.
In addition, the company is required to provide quantitative disclosure, including the amount of capitalization, amortization and impairment.
Notes to Consolidated Financial Statements 31. 2018 (
Unless otherwise stated, millions of dollars. (1)(2)
Notes to Consolidated Financial Statements 31. 2018 (
Unless otherwise stated, millions of dollars.
Notes to Consolidated Financial Statements 31. 2018 (
Unless otherwise stated, millions of dollars.
Notes to Consolidated Financial Statements 31. 2018 (
In millions of dollars, unless otherwise stated the fair value of the PSUs granted in 2018, the use of the Monte Carlo simulation method on the grant date is estimated at 2017 and 2016.
Monte Carlo simulations create labor futures by generating a sample path of a large number of potential results.
The following assumptions were used in calculating the fair value of the awarded unit: Notes to Consolidated Financial Statements 31, 2018 (
Unless otherwise stated by the director DSUs, in millions of dollars, the company will deliver a common stock or cash equivalent to the fair market price at the option of the holder when settling each outstanding DSU (
Including accumulated dividend equivalents)
After the service is terminated.
Directors who meet the share ownership requirements may choose the equity portion of the DSUs annual engagement settled in cash or stock within one year of the grant date.
The fair value of the award date of the DSU award is equal to the market value of the company's shares on the date of award.
Notes to Consolidated Financial Statements 31. 2018 (
In millions of dollars, unless notes 31, 2018 to the consolidated financial statements (
Unless otherwise stated, millions of dollars.
Notes to Consolidated Financial Statements 31. 2018 (
Unless otherwise stated, millions of dollars.
Notes to Consolidated Financial Statements 31. 2018 (
In millions of dollars, unless otherwise stated, the projected welfare debt notes for consolidated financial statements will change by 31, 2018 (
Millions of dollars unless otherwise stated
In the long run, the performance of the pension plan mainly depends on the long-term
Portfolio decision.
To manage long-
The company conducts an asset/liability study to address the long-term risk of not having enough funds to meet the obligations of the pension plan.
These studies lead to a long-term proposal and adoption
Fixed-term portfolio targets, set expected returns, and reduce the risk of increased liabilities and reduced assets adversely affecting the plan.
In determining the portfolio target that best meets the investment target, various factors are considered, including (a)
The features of each scheme ,(b)
Duration of each plan liability ,(c)
The solvency and ongoing operating financial position of each plan and its sensitivity to changes in interest rates and inflation, and (d)the long-
Term returns and risk expectations for key asset categories. (1)
Notes to Consolidated Financial Statements 31. 2018 (
Unless otherwise stated, the funding status includes an estimated benefit obligation of $49 million (
$54 million as at December 31, 2017)
Related to supplementary unfunded fixed benefits and fixed contribution plans.
Notes to Consolidated Financial Statements 31. 2018 (
In millions of dollars, unless notes 31, 2018 to the consolidated financial statements (
In millions of dollars, unless otherwise stated, the company uses the full-benefit curve method to estimate the current service and interest cost portion of the net periodic benefit costs of the Canadian Pension Plan and the US pension planS.
Pension Plan.
The estimates of these components are made by the specific spot exchange rate on the yield curve used when determining the interest obligations of the relevant projected cash flow.
Notes to Consolidated Financial Statements 31. 2018 (
In millions of dollars, unless otherwise noted, fair value measures Level 1, Level 2, Level 3 (1)(2)(3)(4)(5)(6)(7)
Notes to Consolidated Financial Statements 31. 2018 (
Unless otherwise stated, the table below lists the fair value of planned assets for December 31, 2017 by asset category :(1)(2)(3)(4)(5)(6)(7)(8)
Notes to Consolidated Financial Statements 31. 2018 (
In millions of dollars, unless otherwise stated, the table below shows changes during the fair value measurement period at level 3 of planned assets: Notes to Consolidated Financial Statements 31, 2018 (
Unless otherwise stated, millions of dollars.
Notes to Consolidated Financial Statements 31. 2018 (
Unless otherwise stated, millions of dollars. (1)
Notes to Consolidated Financial Statements 31. 2018 (
Unless otherwise stated, millions of dollars.
Notes to Consolidated Financial Statements 31. 2018 (
In millions of dollars, unless otherwise stated, the company's income tax reserve is different from the amount calculated at the statutory income tax rate of 21% applicable (
35% in December 31, 2017 and December 31, 2016)to earnings (loss)
Before paying the following Income tax: Note 31 and 2018 to the consolidated financial statements (
In millions of dollars, unless otherwise stated during the 2017 period, the Company recorded a goodwill impairment of $0. 578 billion, with the lowest tax incentives, affecting the effective tax rate of $0. 2 billion.
The 2017 effective tax rate has also been significantly affected by the company's foreign business taxed at a lower statutory rate and the company that recorded the $24 million current tax credit, mainly for research and experimental credits.
Notes to Consolidated Financial Statements 31. 2018 (
In millions of dollars unless otherwise stated historical income of deferred income tax assets and liabilities /(losses)
Especially the last three.
Year cycle reversal of future taxable temporary difference expected future income /(losses)
Tax planning strategic asset divestiture instructions for Consolidated Financial Statements 31 and 2018 (
In millions of dollars, unless otherwise stated, management believes that the results of future operations are likely to generate sufficient taxable income to achieve Deferred tax assets, in addition to the existence of certain national credits with valuation allowances of $6 million in December 31, 2018, the carry-over of certain foreign losses as at December 31, 2018 was $10 million.
Where $ (8)
2018 of tax expenses and effective tax rates are well affected (
Million dollars; 2016 – $(1)million).
Notes to Consolidated Financial Statements 31. 2018 (
Unless otherwise stated, millions of dollars.
Notes to Consolidated Financial Statements 31. 2018 (
Unless otherwise stated, millions of dollars. (1)
Notes to Consolidated Financial Statements 31. 2018 (
Unless otherwise stated, millions of dollars.
Notes to Consolidated Financial Statements 31. 2018 (
Unless otherwise stated, millions of dollars.
Notes to Consolidated Financial Statements 31. 2018 (
Millions of dollars unless otherwise stated.
Notes to Consolidated Financial Statements 31. 2018 (
Unless otherwise stated, the following forms provide components of closing and restructuring costs by division: Notes to Consolidated Financial Statements 31, 2018 (
Unless otherwise stated, millions of dollars.
Notes to Consolidated Financial Statements 31. 2018 (
Unless otherwise stated, it is in millions of dollars. (1)(2)
Notes to Consolidated Financial Statements 31. 2018 (
Unless otherwise stated, the table below lists the re-classification of other aggregate losses accumulated :(1)(2)(3)
Notes to Consolidated Financial Statements 31. 2018 (
Unless otherwise stated, millions of dollars.
Notes to Consolidated Financial Statements 31. 2018 (
In millions of dollars, credit convenience notes are submitted to Consolidated Financial Statement 2018 unless otherwise stated (
Unless otherwise stated, millions of dollars.
Notes to Consolidated Financial Statements 31. 2018 (
Unless otherwise stated, millions of dollars.
Notes to Consolidated Financial Statements 31. 2018 (
In millions of dollars, the authorized stated capital, unless otherwise stated, includes the following: Notes 31, 2018 to the consolidated financial statements (
Unless otherwise stated, millions of dollars. (1)
Notes to Consolidated Financial Statements 31. 2018 (
In millions of dollars, unless the climate change regulations indicate 31, 2018 in the consolidated financial statements (
In millions of dollars, unless otherwise stated, the company purchased limited insurance related to the purchase agreement and is seeking to recover the remaining 1 euro. 5million ($1. 7million)
Under the insurance policy
Any monies recovered from the insurance company will be recorded during the period of receipt of the proceeds.
Notes to Consolidated Financial Statements 31. 2018 (
Unless otherwise stated, millions of dollars.
Notes to Consolidated Financial Statements 31. 2018 (
Unless the cost risk is otherwise indicated, in millions of dollars (1)
Notes to Consolidated Financial Statements 31. 2018 (
In millions of dollars, unless otherwise stated, the following table lists the currency values of monetary derivatives due as of December 31, 2018 under important currency positions at the time of hedging forecast purchases and sales: level 1, Level 2, Level 3, Notes to Consolidated Financial Statements 31, 2018 (
In millions of dollars, unless otherwise stated, the following table lists recurring information on corporate financial assets and financial liabilities measured at fair value (except Long-See (regular debt (b)below)
As at December 31, 2018 and December 31, 2017, in accordance with the accounting standards for fair value measurement and disclosure, it was noted that the company's fair value rating for valuation techniques used to determine such fair value.
Notes to Consolidated Financial Statements 31. 2018 (
In millions of dollars, unless otherwise stated, the net cumulative loss recorded in the cumulative Other Consolidated losses associated with currency options and forward hedging forecast purchases as of December 31, 2018 was $29 million, of which, in the next 12 months, the sales or sales costs of derivatives at maturity will confirm a loss of $18 million, calculated at the value at the time, which may be different from the situation in December 31, 2018. (a)--(b)
Notes to Consolidated Financial Statements 31. 2018 (
Unless otherwise stated, millions of dollars.
Pulp and paper-including communication, professional and packaging paper and the design, manufacture, marketing and distribution of pulp in the market for Cork, fluff and hard wood.
Personal care-including the design, manufacture, marketing and distribution of absorbent sanitary products.
Notes to Consolidated Financial Statements 31. 2018 (
In millions of dollars, unless otherwise stated, the analysis and reconciliation of the company's business unit information with the corresponding information in the financial statements are as follows :(1)
Income from signing contracts with customers ,(2)(3)
Improvement of the presentation of the net cost of periodic pensions and the net cost of post-periodic retirement pensions, Notes to Consolidated Financial Statements 31, 2018 (
Unless otherwise stated, it is worth millions of dollars: $0. 25 billion and $0. 217 billion respectively;
Personal Care: $ (527)
Million and $57 million respectively; Corporate: $(40)million and $(51)
Millions respectively. )
Notes to Consolidated Financial Statements 31. 2018 (
Unless otherwise stated, millions of dollars.
Notes to Consolidated Financial Statements 31. 2018 (
In millions of dollars, unless notes 31, 2018 to the consolidated financial statements (
In millions of dollars, unless notes 31, 2018 to the consolidated financial statements (
In millions of dollars, unless notes 31, 2018 to the consolidated financial statements (
In millions of dollars, unless notes 31, 2018 to the consolidated financial statements (
In millions of dollars, unless notes 31, 2018 to the consolidated financial statements (
In millions of dollars, unless notes 31, 2018 to the consolidated financial statements (
In millions of dollars unless otherwise stateda)(b)(c)(d)(e)(f)(g)(h)ITEM 9.
Changes and disagreements with accountants on accounting and financial disclosure project 9A.
Internal Control-Integration Framework project 9B.
Other information items 10.
Project 11. Director, executive officer and corporate governance.
Item 12 of administrative compensation.
Ownership and management of certain beneficial owners and related shareholder matters (1)(2)(3)ITEM 13.
Relationship with directors and related transactions.
Main accounting expenses and service items 15.
List of Exhibits and Financial Statements (a)
Consolidated certificate amendment and restatement of amendments and restatements
Legal form of contract between Domtar companies
As trustee, the Bank of New York is related to Domtar Corp. ’s (i)7.
125% notes due 2015 ,(ii)5.
375% notes due 2013 ,(iii)7.
875% notes due 2011 ,(iv)9.
Domtar Corp. will issue 5% notes in February 15, 2008 as part of the debt swap supplementary deed
Domtar Paper Co. , Ltd. , Bank of New York as trustee, and the new affiliated guarantor as trustee, in connection with the new affiliated guarantor's guarantee of the obligations under the deed, on September 7, 2011, at Domtar, participating in healthcare products
Bank of New York Mellon (
Bank of New York)
As a trustee, to participate in the guarantee of the company of health care products
As of March 16, 2012, the obligations of Domtar Corporation, its affiliates and Bank of New York Mellon under the supplementary deed (
Formerly known as Bank of New York)
As a trustee, 4.
40% on May 21, 2012, Domtar Corporation, EAM Corporation and Bank of New York Mellon, as trustees, issued 2022 supplementary contractual notes, with respect to the guarantee of EAM Corporation for obligations under domenturesupport, dated August 23, 2012, in Domtar Corporation, one of its affiliated guarantors and Bank of New York Mellon (
Bank of New York)
As a trustee, 6.
25% as of July 31, 2013, 2042 supplementary contractual notes due to Domtar Corporation, related Health Products Co. , Ltd. and Bank of New York Mellon (
Bank of New York)
As a trustee, in connection with the obligations of the relevant health Products Co. , Ltd. under the Deed of guarantee as of November 26, 2013, in Domtar Corporation, a party to the subsidiary guarantor, and Bank of New York Mellon (
Bank of New York)
As a trustee, 6.
75% of the 2044 supplementary covenants due as of January 23, 2017, as trustees, in mainland supplies, domatar and Bank of New York Mellon, guarantee on mainland Supply Corporation's obligations under the Deferred Share Unit Plan for indenturedomar Corporation (
Applicable to members of the management committee of Domtar Inc.
Before March 7, 2007)
Deferred Share Unit Plan for external directors of Domtar Corporation (
Former director of Domtar Inc. )
Director extension stock unit agreement
Qualified stock option agreement restricted stock unit agreement performance stock unit agreement management committee member resignation plan Domtar compensation agreement DomtarForm revised and reiterated Domtar company 2007 Consolidated incentive PlanDomtar company management committee mr. member's annual incentive plan.
Michael fagan amended and reiterated the supplementary pension plan for designated managers of Domtar Inc.
Revised and renewed employment agreementJohn D.
William samend and RestatedDC SERP are designated Executive Services for Mr. Domtar's personal care agreementMichael D.
GarciaSecond amended and reiterated the credit agreement between the company as of August 18, 2016, Domtar Inc. , Domtar pulp and paper general partnership, laborosindasA. U.
And attend Health Care AB at Bank of Montreal, Bank of America at Goldman Sachs, Royal Bank of Canada and Wells FargoA. , as co-
Documents agent, Nova Scotia Bank and Bank of AmericaA.
As a joint agent and Bank of JP MorganA.
As an administrative agent
Power of consent of 21 subsidiaries of Domtar company Independent Certified Public Accountants (
Included in the signature page)
Certified chief executive under section 302nd of the Sabans Act-
According to Section 302 of the Sabans act, the 2002 Oakley act certified the chief financial officer-
2002 Oakley act certified chief executive officer under Section 906 of the Sabans Act-
According to Section 906 of the Sabans act, the 2002 Oakley act certified the chief financial officer-
The Oakley Act of 2002 * Schedule 16 to the financial statements. FORM 10-
Confirmation of participation plan for Grant and option price.
Grant's confirmation
The company hereby certifies and confirms the grant of an option participant in the number of shares purchased (the “Options”)
The Domtar Corporation 2007 comprehensive incentive plan stock option award notice states that the company delivers to the participant (
"Notice of Grant ").
These options are not incentive stock options prescribed by the US government. S.
The revised domestic income Law of 1986.
This agreement is made under the terms and conditions of this plan and the terms of the options are subject to the terms and conditions of the plan, which are incorporated by reference to this plan.
If there is any inconsistency between this agreement and the terms of the plan, the terms of the plan shall prevail.
Options should be considered as service awards under the scheme. Exercise Price.
The option shall have the exercise price specified in the notice of Grant.
Belonging, exercise and exercise. Vesting.
Unless otherwise provided in Section III, the option shall be vested and exercisable in three phases at the date of attribution specified in the notice of award, in accordance with the participant's continued employment in the company until the applicable date of attribution. Exercise;
Conditions for exercise.
Once acquired and exercisable under the provisions of this agreement, the option may be exercised at any time before the date of termination of the option under Section III.
Participants may exercise all or part of the options in the form and substance satisfactory to the company by giving notice to the company or the brokerage company designated or approved by the company, this will indicate the circumstances in which the participant chooses to exercise the option and the number of shares in which the participant exercises the option.
The notice must be accompanied by a full payment of the exercise price of the number of shares purchased by the participant.
Participants may make this payment through any of the following combinations :(a)by cash; (b)
Checks acceptable to the company; (c)by tendering (
Actually or by proof)
Participants have shares of common stock for at least six months (
If this hold period is necessary in order to avoid charging for the company's revenue); (d)
To the extent permitted by law, direct the broker to deliver the full payment required to the company in accordance with the procedures established by the company; or (e)
Any other method permitted by the Commission.
Exercise without cash
In lieu of bidding to the company according to Section II (b)
, The participant is marked as "cashless exercise" and specifies in the total number of shares of common stock that the participant wants in the exercise option.
The amount of stock that the participant is entitled to receive has a fair market value equal to more (i)
At that time, the fair market value of each share multiplied by the option specified by the participant can be exercised according to the number of shares in Section II (b)
After the participants paid the exercise price (ii)
According to Section II, the exercise price to be paid by the participant (b)
About such a work.
Option termination normal due date.
Unless terminated early under Section III (b)or Section 3(c)
The option shall be terminated at the seventh anniversary of the grant date (
"Normal Due Date ")
, If not exercised by this date.
Termination of employment
Death or disability
If the participant terminates his or her work in the company as a result of death or disability, the choice of all participants shall be vested and exercisable and remain open until the date of termination or the first anniversary of the normal due date, whichever is earlier, any unexercised option shall be terminated immediately thereafter. Retirement.
If the participant terminates employment in the company due to retirement, the participant's option shall be attributable and exercisable within the range of the number option multiplied by the score, and the molecule is the number of days from the grant date to the participant's retirement date, denominator is the number of days from the beginning of the grant if the employment of the participant continues until the original date of attribution, the date the option will be granted and any remaining option will be forfeited and retired.
All vested options shall remain outstanding before the 5 th anniversary of the date of termination or the normal due date, whichever is earlier, and any unexercised option thereafter shall be terminated immediately.
Terminated for some reason.
If the employment of the participant is terminated for some reason, all options, whether acquired or not, exercisable or non-exercisable, shall be immediately confiscated and canceled, effective from the date of termination of service by the participant.
Voluntary termination of participants.
If the participant terminates his or her work in the company for any reason other than death, disability or retirement, all options of the participant, both acquired and not allowed, exercisable shall be forfeited and canceled immediately, effective from the date of termination of service by the participant.
Involuntary termination for any other reason.
Except as otherwise provided in Section III (b)(iv)
If the company terminates the employment of the participant for any reason other than death, disability, retirement or cause, all vested options shall remain pending until 90 days after the service termination date or the normal due date, whichever is earlier, any option not exercised thereafter shall be terminated immediately.
Change control.
In the event of a change in control, the option shall be vested or continued as specified in the plan.
Compliance with securities laws.
Although there is any other provision in this agreement, the participant shall not sell the shares obtained in the exercise of the option unless they are registered under the amended Securities Act of 1933 (
Securities law)
Alternatively, if the shares were not registered at the time, such sale would be exempt from the registration requirements of the Securities Act.
The sale of such shares must also comply with other applicable laws and regulations governing such shares, and if the company determines that such sale does not meet the substantive requirements, the participant shall not sell such laws and regulations as shares.
The rights of the participants in terms of options.
Restrictions on transferability.
The options hereby granted shall not be transferred or transferred in whole or in part, nor shall they be directly or indirectly provided, transferred, sold, pledged, transferred, mortgaged or otherwise disposed of or secured (
Including, but not limited to, gifts, legal or otherwise)
In addition to the willingness or pedigree of the participant at the time of his death and the law assigned to the participant's estate;
But the beneficiary of the deceased participant or the representative of the participant's estate shall, in writing, acknowledge and agree in the form reasonably accepted by the company, subject to the terms of this agreement and the plan, as if the beneficiary or estate were a participant.
No rights to shareholders
Participants, as shareholders, do not enjoy any rights, including any vote, as shareholders of the company, dividends or other rights or privileges on any stock subject to the option, unless and until the stock is issued to the participant after exercise. Adjustments.
The board of directors shall adjust the quantity, class and exercise price of the shares covered by the options to reflect any special dividend, share division or portfolio of shares or any capital restructuring, business consolidation, consolidation
Closing, exchange of shares, liquidation or dissolution of the company or other similar transactions affecting the stock in a manner at the discretion of the board of directors. Miscellaneous. Binding Effect; Benefits.
This agreement is binding and in the interest of the parties to this agreement and their respective successors and assigns.
Any express or implied content in this agreement has no intention or shall be construed as giving any legal or equitable right to the parties to this agreement or to any person other than their respective successors or assigns, pursuant to this agreement or any of the terms contained herein or the remedies or claims in connection with it.
There is no right to continue employment.
The plan or any content in this agreement shall not in any way interfere with or restrict the right of the company or any of its subsidiaries to terminate the employment of the participant at any time, or grant participants any right to continue to employ the company or any of its subsidiaries. Interpretation.
The Commission has the full authority and discretion to interpret and interpret the plan (
And any rules and regulations issued under that rule)and this Award.
Any decision or explanation made by the committee under or under the plan or this award shall be final and binding and conclusive for all those affected here. Tax deduction
The company and its subsidiaries are entitled to deduct from all cash paid to the participant (
Both under the plan and in other cases)
Any amount of tax required by law, in the employer's view, is necessary to meet the tax withholding required by any national, state law, provinces, municipalities or other jurisdictions, including but not limited to income tax, capital gains tax, are required by law to withhold transfer taxes and social security contributions.
The company may require that the recipient of the stock be remitted to the company with sufficient cash to meet the tax withheld as a condition for the issuance of such shares.
The Commission may, as appropriate, require participants to conduct elections in accordance with the conditions set out by the Commission to fulfil these obligations by having the company withhold or the participant sell the least number of shares with sufficient fair market value, sufficient to meet all or part of the amount required to withhold.
Confiscated due to improper financial reporting.
If, as a result of the company's material non-compliance with any financial reporting requirements set out in the securities law, the company is required to prepare an accounting restatement, and that the participant, intentionally or grossly negligent, engages in misconduct or intentionally or grossly negligent failure to prevent misconduct as determined by the Commission, or that the participant is one of the individuals automatically confiscated under section 304 of the Sabans Act --
In the Oakley Act of 2002, participants will be confiscated and dismissed by the company (i)
12-any option granted or vested during the period
One month after the submission of financial documents that reflect the requirements of such financial reports ,(ii)
All proceeds obtained or accrued during the 12-12 period as a result of the exercise of options or the sale of any stock
The period of one month after the submission of financial documents that reflect the requirements of such financial reports, and (iii)
If it is based on material non-
Option to comply with financial reporting.
The company may also cancel or reduce or require participants to waive or waive the company or reimburse the company for any options granted or granted and for any gains obtained or accrued due to this exercise, the ownership or settlement of the option or any stock obtained at the time of exercise of the option, to the extent permitted or required by the option, or under any company policy implemented by the option, laws, regulations or stock exchange rules applicable from time to time may be valid (
Including, but not limited to, Dodd-Frank Wall Street reform and consumer protection laws and regulations and stock exchange rules enacted under the Act). Applicable Law.
This agreement shall be governed by the laws of Delaware and construed in accordance with the laws of Delaware, regardless of the conflict of laws rules applicable to the laws of any other jurisdiction.
Restrictions on rights;
No right to future grants;
Special items for compensation.
By signing this agreement and accepting the options hereby certified, the participant acknowledges :(a)
The plan is of a discretionary nature and the company may suspend or terminate the plan at any time; (b)
The award does not result in any contract or other right to receive a future Award; (c)
Participation in the plan is voluntary; (d)
The value of the option is not part of normal or expected compensation for the calculation of any severance pay, separation, redundancy, end-of-service payments, bonuses, long term compensation
Service awards, pension or retirement benefits or similar payments; and (e)
The future value of the stock is unknown and uncertain.
Employee data privacy
By signing this agreement, the participants accept the options hereby certified :(a)
Authorizing the company, the employer of the participant (if different) and any agent of the company that manages the plan or provides the plan record service to disclose to the company or any of its affiliates any information and data requested by the company, to facilitate the award and management of the program; (b)
Waiving any data privacy rights that participants may have with respect to such information; and (c)
Authorized companies and their agents to store and transmit such information electronically.
Electronic delivery is agreed.
By signing this agreement and accepting the options hereby certified, the participant hereby agrees to the delivery of the information (
Including, but not limited to, information provided to participants as required by applicable securities laws)
Options regarding the company and its subsidiaries, plans, this agreement and delivery via the company's website or other electronic.
Title and title.
The headings and headings herein are for reference and convenience only and shall not be considered as part of this agreement and shall not be used for the construction of this agreement. Counterparts.
This agreement may be executed in any number of corresponding documents, each of which shall be treated as original and all shall constitute the same instrument.
Notice of participation by the agreement Company in granting restricted stock units notice of ownership granted to restricted stock unitsiii)
Any other reason
If the participant terminates the employment before the date of attribution for any reason other than death, disability or retirement, from the date of termination of the participant, all restricted stock units shall be immediately forfeited and canceled.
Changes to the discretionary settlement of restricted stock units by the control board-unless these stocks are registered under the amended Securities Act of 1933 (
Securities law)
Alternatively, if the shares were not registered at the time, such sale would be exempt from the registration requirements of the Securities Act.
The sale of these shares must also comply with other applicable laws and regulations governing these shares, and if the company determines that such sale does not comply with these laws and regulations, the participant shall not sell the stock laws and regulations.
The participant's right to restricted stock units the restriction on transferability is not in the Misc of capital allocation the right to adjust equally as the dividend of the stock holder (a)Binding Effect; Benefits.
Custom message
Chat Online 编辑模式下无法使用
Chat Online inputting...